REC signed a MoU with Dr.Reddy Foundation (DRF) on 22nd February 2012, in the presence of Shri Rajeev Sharma, CMD REC and other senior executives, Shri.Vinod Behari, Executive Director HR/CSR signed MoU with Shri. Jeetendra Kalra, CEO, Dr. Reddy Foundation. The MoU was signed for the generation of livelihoods through “REC-DRF-LABS” (Livelihood Advancement Business Schools) for training of 2400 rural/semi urban youth from economically weaker sections leading to their gainful employment. REC will be giving an assistance of Rs.162.91 Lacs to Dr.Reddy Foundation (DRF) under this CSR initiative, in the first year.
REC, through its Corporate Social Responsibility (CSR) initiatives strives to inter alia provide skill development leading to sustainable income generation and livelihood creation.
REC is a NAVRATNA Central Public Sector Enterprise under Ministry of Power and finances entire power sector infrastructure including rural electrification projects, all over the country. REC has its Corporate Office in New Delhi and over 17 Project Offices located in most of the states.
Set up in 1996, Dr. Reddy’s Foundation (DRF) is a non-profit partner of Dr. Reddy’s Laboratories. Driven by its belief in the inherent motivation and capacity of the human being for progress – given the appropriate and adequate environment – DRF innovates and tries out novel concepts that are continuously refined and scaled up to cover larger groups of disadvantaged populations.
Seeing the possibilities rather than the problems created by change, DRF plays the role of a change agent in the social sector, by recognizing and pursuing new opportunities to serve that mission, and by engaging in a process of continuous innovation, adaptation and learning.
The project aims at providing skill development leading to livelihood and gainful employment to nearly 12000 youth largely from weaker section of society such as Below Poverty Line (BPL) etc. over a period of 5 years with an assured funding support of Rs.10 Crores approximately. The states chosen for the purpose are Chhattisgarh, Jharkhand, Eastern UP, Bihar, West Bengal and Odisha.